Charles Schwab & Co. has reached a settlement with the Securities and Exchange Commission over charges it misled investors about its robo-advisor service, AdvisorHub reports. The SEC said that from March 2015 through November 2018, three Schwab investment adviser...
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Month: June 2022
SEC obtains judgment against investment advisor charged with orchestrating Ponzi scheme
The Securities and Exchange Commission announced it has obtained a final judgment and permanent injunction against a Rhode Island investment advisor who was charged with defrauding clients in a Ponzi scheme, Financial Advisor reports. A U.S. District Court ordered...
SEC reopens public comment period for proposed rule on erroneously awarded compensation
The Securities and Exchange Commission has announced that is reopening the public comment period for its proposed rules involving listing standards for the recovery of erroneously awarded compensation. The rules were proposed to implement Section 954 of the Dodd-Frank...
SEC charges firm and five brokers with violating Reg B1 standards
A California-based company and five of its brokers have been charged by the Securities and Exchange Commission with violating Best Interest Obligations (Reg BI), according to AdvisorHub. The SEC announced the action Thursday against registered broker-dealer Western...
FINRA orders UBS to pay investors nearly $1.2 million over YES strategy
UBS Financial Services Inc. was dealt a setback last week in the latest dispute involving the firm’s Yield Enhancement Strategy (YES), according to InvestmentNews. A Financial Industry Regulatory Authority panel of arbitrators ordered UBS to pay $1.18 million to three...
